Britannia P&I and The Korea Shipowners’ Mutual Protection and Indemnity Association (KP&I) have announced a collaboration to provide cover to South Korean shipowners.
The agreement, called Korea-Britannia P&I Collaboration (KBC), will involve cover on a mutual basis excess of a primary $500,000 layer from KP&I.
KP&I will market the facility and handle claims within this layer, while Britannia P&I will assume responsibility for handling any larger or complex claims with a potential to exceed the sum.
